$PRIM (Primoris Services) — 8-K: Primoris Q3 revenue falls 10.4% to $2.0B; net income $51.3M, EPS $0.95; backlog hits record $14.1B

Revenue was $2.0 billion, down $0.2 billion or 10.4% year over year, on lower renewables revenue in the Energy segment partly offset by Utilities growth. Net income was $51.3 million, or $0.95 per diluted share, down $43.3 million and $0.78 per share. Adjusted EBITDA fell 20.3% to $134.4 million, and gross margin narrowed to 10.5% from 10.8%. Total backlog reached a record $14.1 billion, including $8.5 billion of MSA backlog, and the company authorized up to $250 million of share purchases.

Revenue was $2.0 billion, down $0.2 billion or 10.4% year over year, on lower renewables revenue in the Energy segment partly offset by Utilities growth. Net income was $51.3 million, or $0.95 per dil